In This Episode We Cover:
- Revenge Trading
- Trading Loss
- Why you must have a mentor
- Why new traders fail
- How to start trading in futures & Commodities
- Becoming an expert in one area
- How trading psychology can change the game for you
- Money management keeps you in the game
- Trading demo accounts
- How to start trading with small capital
- Research on sp500
- Best times to trade s&p500 companies
- How Michael trades s and p 500 futures
Links from the Show:
Books Mentioned in this Show:
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- If you think training is expensive, wait until you see the tab for ignorance.
- Find a broker who is willing to invest both time and money towards your success.
- Write a business plan just as you would for any other business.
- Develop a written trading plan with the help of your mentor.
- Learn to identify and execute three high probability trade setups.
- Do not trade real money until you have proven your setups in the simulator.
- When you begin to trade real money, start with only one contract.
- Never trade without a hard stop loss in place.
- Never increase your risk once you have entered a trade.
- Journal every trade and stay in constant contact with your broker and your mentor.
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